Ethereum Hits Record High While Mainstream CEX ETH Funding Rates Remain Neutral — Coinglass (Aug 23)
ETH/USDT
$39,049,302,904.94
$2,145.26 / $2,009.54
Change: $135.72 (6.75%)
-0.0018%
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COINOTAG reports, referencing Coinglass data on August 23, that while Ethereum reached a fresh intraday high, prevailing centralized exchange (CEX) ETH funding rates held broadly neutral across major venues, indicating balanced long‑short positioning among traders.
The funding rate is a periodic fee applied to perpetual contracts designed to tether derivative prices to the underlying spot market; it functions as a transfer between long and short counterparties rather than a platform revenue stream, and is monitored by market participants to gauge leverage flows.
Market observers commonly treat a funding rate of 0.01% as a baseline; readings above 0.01% suggest a net bullish bias, whereas levels below 0.005% are interpreted as signaling a generally bearish stance in the ETH derivatives market.